Housing Development Gains After Report it Plans to Sell Land

Sept. 21 (Bloomberg) -- Housing Development &
Infrastructure Ltd. gained as much as 1.4 percent in Mumbai
trading after the Economic Times newspaper reported today the
real estate developer has put about 5 million square feet of
land parcels at Virar, near Mumbai, on the block.

Shares of the company rose 0.6 percent to 113.1 rupees at
9:16 a.m. local time. Housing Development expects to raise 6.5
billion rupees through the sale in the next few weeks to repay
its debt, the report said, citing people it didn’t identify.